Brann Financial Services, LLC
Maximizing your retirement income

Maximizing Your Retirement Income

                           and Maximizing Your Social Security Benefit!

Decisions made today can have a tremendous bearing on the total amount of benefits you receive over your lifetime.

When developing your customized retirement income plan we walk through a step-by-step process that is designed to help you feel confident in your decisions. Income strategies are customized to match your personal objectives and then we help you execute a sound retirement income program utilizing the following services:

          1. Social Security & retirement planning (see case study testimonial below)

          2. Financial forecasting

          3. Estate conservation planning

          4. Tax management

Our Social Security Planning Process provides you with the information you need to maximize your retirement income. If you are a Baby Boomer 58 years or older and are serious about planning for your retirement income, we have the resources to help you. You have paid into the Social Security system for years, and now it will soon be your turn to collect. Advance planning is absolutely essential to help you make the most of this very valuable benefit. With our Social Security Planning Process and Calculators we can:

          Determine the best time for you to apply for benefits
          Apply strategies to coordinate benefits with your spouse to maximize monthly benefits now and survivor benefits later
          Minimize taxes on your Social Security benefits
          Coordinate Social Security with your other sources of retirement income

We can also answer your questions regarding: spousal benefits, divorced-spouse benefits, survivor benefits, how working affects your benefits, how benefits affect your taxes, and how to best coordinate income streams.

Social Security Case Study Testimonial:

Steve is 68, still working and is going to file for Social Security when he is 70. His benefit at age 66 was $2,000 and at age 70 it will be $2,640. His wife, Amy turned 66 six months ago and has decided to file for her own monthly benefit of $1,005. INSTEAD we decided on a different tactic.

Strategy: Steve filed for his benefit and then suspended it which allowed Amy to file for her spousal benefit of $1,000 a month. By deferring her own benefit to age 70, it will grow 8% a year for a monthly benefit of $1,326.

The Results: Because Amy was over 66 and 6 months old, she received a check for the 6 months* she did not collect her spousal benefit which was $6,000 and she is now receiving her spousal benefit of $1,000 a month rather than her own benefit of $1,005 a month. Steve will begin receiving his $2,640 monthly benefit at age 70 and Amy will switch to her own monthly benefit at age 70 of $1,326. At age 70 Amy will have an extra $3,912 a year by using this strategy.

* Six months is the maximum look back period for missed benefits.

Contact us at Max@BrannFinancial.com for more information on how we can help you maximize your retirement income!

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